Citigroup in retreat from retail banking

Citigroup in retreat from retail banking

Facing challenges from local rivals, some foreign financial institutions have withdrawn their retail banking businesses in Asian markets, including in Vietnam, and placed their priority on institutional customers. 
Foreign bank moves pointing to repositioned focus

Foreign bank moves pointing to repositioned focus

Banking giant Citigroup has decided to shut down its retail division in 13 markets, including Vietnam, to reset focus on institutional clients. Kent Wong, partner, head of Banking and Capital Markets at VCI Legal, explained to VIR’s Celine Luu why some foreign lenders are withdrawing, and how fierce the competition between international and locally-invested banks is in Vietnam.
Fitch downgrades outlook on Vietcombank, VietinBank, ACB, MB, and ANZ

Fitch downgrades outlook on Vietcombank, VietinBank, ACB, MB, and ANZ

Credit ratings provider Fitch Ratings has downgraded its outlook on four local and one foreign bank in Vietnam – Vietcombank, VietinBank, MB, ACB, and ANZ.
What’s needed to shift towards higher-quality investment?

What’s needed to shift towards higher-quality investment?

Vietnam has come a long way since the doi moi reforms. Its success in attracting foreign direct investment has been evident. With the right policies and implementation, Vietnam can remain a magnet for the right type of FDI that will help push the economy
ANZ staff charged with appropriation of VND91 billion

ANZ staff charged with appropriation of VND91 billion

The former head of the customer relations department at ANZ’s South Sai Gon branch, Nguyen Pham Gia Tho, appropriated over VND91 billion ($3.95 million).
Prosecution begins for VND300 billion fraud at HSBC and ANZ

Prosecution begins for VND300 billion fraud at HSBC and ANZ

HSBC and ANZ named 13 companies in a series of frauds costing the banks $13 million, leading to the prosecution of dozens of defendants and eight companies.
ANZ marks 25-year milestone in Vietnam

ANZ marks 25-year milestone in Vietnam

ANZ has celebrated its 25th anniversary in Vietnam, expressing further committed to journey along with the country in the next 25 years and after.
ANZ Vietnam announces Jodi West as new CEO

ANZ Vietnam announces Jodi West as new CEO

ANZ today announced the appointment of Jodi West as CEO Vietnam, reporting to Farhan Faruqui, ANZ Group executive, International. 
Vietnam to weather the trade storm

Vietnam to weather the trade storm

Vietnam has witnessed a condensed fluctuation in its exchange rate over the past few weeks as a result of the strengthened greenback, but the ongoing trade tension between the US and China does not look likely to harm the country’s economy - in fact, signs show the opposite.
ANZ and Saigonchildren ‘Project 3E’ provides education opportunities for 4,000 children

ANZ and Saigonchildren ‘Project 3E’ provides education opportunities for 4,000 children 1

ANZ and Saigon Children’s Charity CIO (saigonchildren) today announced the completion of ‘Project 3E’ (Educate, Enrich and Employ) with the opening of Thuan Hoa 2 Primary School and Thuan Hoa Kindergarten.
Vietnam and Cambodia trimmed health spending

Vietnam and Cambodia trimmed health spending

While most of the emerging markets in Asia has increased its overall spending on health as a share of GDP since 2000, Cambodia and Vietnam has trimmed their allocations to health.
Australia's ANZ bank exits Cambodian joint venture

Australia's ANZ bank exits Cambodian joint venture

Australian bank ANZ has sold its majority stake in a Cambodian joint venture to Japanese financial firm J Trust as it shifts focus away from Asia and onto core assets.
ANZ wins Best Trade Finance Bank in Vietnam

ANZ wins Best Trade Finance Bank in Vietnam

ANZ has been named “Best Trade Finance Bank in Vietnam” in The Asset’s Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2018.
Banks take on wealth management

Banks take on wealth management

Managing the wealth of well-off people could be a pleasantly profitable business for banks this year, as the number of the rich is growing alongside the strong performance of the local economy.
A new route for ANZ as FDI growth hits records

A new route for ANZ as FDI growth hits records

Surfing the first wave of FDI inflows in the early 1990s never seemed enough for ANZ Vietnam. The lender has now chosen to focus all its resources on institutional banking, to continue catering to its clients and leveraging the opportunities arising from the current FDI growth in the country.